Friday September 29, 2017 - 08:11:08 GMT
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Friday Quarterend trade is off to a cautious start. Some istitutions take a reduced profile on month- and quarter-ends, but this seasonality is a lot less than it once was. Market liquidity could be slightly less tan normal today. Overall the tone of the USD remains improved in the wake of Yellen comments earlier this week. Watch the yield on the 10-yr Note as a barometer of Fed policy sentiment.
The EURUSD HOD so far has been 1.1809, while the LOD has been 1.1772. The EURUSD focus at the moment is resistance at the 1.1800 line. Use it as a marker of the EURUSD trading bias. The yield on the U.S. 10-yr Note is 2.314%, +0.4 bp. Continue to Watch stocks as the key driver for bond yields. Use the 10-yr note yield is a short-hand sentiment barometer. Your Amazing Trader charts provide market direction.
Forex trading conditions can change quickly, so use your AT charts to monitor current support (red) and resistance (blue) levels. The technicals often change ahead of the fundamentals. Changing colors and/or disappearing or new lines on the Amazing Trader (AT) charts will tell you which way the winds are blowing. Keep an eye on which color lines are being drawn or erased as your leading momentum indicator.
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